Soyabean oil supply will normalise in two days, says commerce advisor

The commerce advisor says that the price of palm oil – which accounts for 60 percent of the edible oil market – is lower than the rate set by the government

The supply of soyabean oil will return to normal within the next two days, says Sheikh Bashir Uddin, the interim government’s advisor to the Ministry of Commerce.

He made the remarks while speaking to journalists after an inspection of the Mohammadpur Town House Wet Market on Monday afternoon, according to a statement from the ministry.

In response to a question about soyabean oil, the advisor said: “There is no shortage of essential goods. The supply of soyabean oil is somewhat low. There is no denying it. I hope the supply situation will improve from today.”

Asked about rising soyabean oil prices, Bashir Uddin said: “Just as soyabean oil is being sold at a higher price, palm oil is being sold at a Tk 25 ‘lower’ than the government-set price. Palm oil accounts for 60 percent of our total cooking oil. Oil prices in the market have gone up and gone down. I hope the price of soyabean oil will also decrease.”

Industries Advisor Adilur Rahman Khan, who also attended the inspection, said in response to a question: “The BSTI [Bangladesh Standards & Testing Institution] is operating mobile courts during the holy month of Ramadan to control the quality of products and prevent food adulteration. Mobile courts were set up in four markets today. This initiative will continue.”